Palantir Technologies is working alongside connected vehicle data company Wejo in developing an integrated data ecosystem for the automotive industry, according to a report from Seeking Alpha.
The connected vehicle platform will have several uses, including working with parts suppliers to boost component quality and teaming with city planners on smart city types of uses, the report stated.
The partnership will focus on using Palantir’s Foundry platform along with Wejo’s data asset, having assessed over 16 billion data points collected and analyzed per day from 11 million live vehicles, according to the report. Wejo has analyzed more than 10 trillion data points and 48 billion journeys from connected vehicles.
Palantir will also be investing in Wejo. Wejo will be merging with a special purpose acquisition company (SPAC) called Virtuoso Acquisition, which will take Wejo public later in the year, according to the report.
The announcement of its going public has seen Wejo creating partnerships and getting new investments from several companies. Among those are Microsoft, Sompo Holdings and General Motors, the report stated.
Palantir is making its own equity investment in BlackSky, according to the report.
In June, Wejo and Palantir also found themselves working with Microsoft, specifically the Azure cloud platform, and Sompo Holdings to build data and intelligence solutions for connected vehicles.
Read more: Wejo Launches New Connected Vehicle Data Project With Microsoft
The project will focus on traffic and insurance solutions, remote diagnostics, integrated payments, advertising, retail and logistics.
“By combining forces, the two organizations will unlock the power of connected vehicle data — providing customers with greater value, at scale and across multiple industries, while demonstrating a shared respect for and total commitment to data privacy and security,” Wejo said at the time.
Connected cars are a new focus for more people since the pandemic brought about a rise in car sales as people moved away from cities.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More